CLOSED INVESTMENT - BUFORD VILLAGE

BUFORD VILLAGE

Status at Purchase:

Date: December 24, 2014 
Occupancy: 64% 
Purchase Price: $6,825,000

Four-Part Business Plan:

Purchase at Discount:
Purchased from lender for less than half of original development cost ($109 psf vs. $240 psf)

Lease-up Vacant Spaces: 
Implement aggressive marketing plan. 
Take advantage of lower cost basis to reduce rents to market ($14 – $18 psf vs. original developer asking $30 psf)

Reduce Operating Expenses:   
Actively manage property (which has suffered thru distressed ownership) utilizing SunCap’s platform and key vendor relationships in order to reduce operating expenses. 

Increase NOI: 
Double the NOI over a five year holding period. 

Status at Sale:
Date: June 28, 2018
Occupancy: 84%
Sale Price: $9,250,000

Actual Investment Returns:

Equity Invested: $2,450,000 

Actual Investor Returns:
7.8% current cash-on-cash
17.0+% IRR over 3.5 year hold 
Investment Multiple:  1.7